In determining the rights of partner Dewey in the firm of Dewey, Cheatham, and Howe, the most important reference point is: ______.
A) the Uniform Partnership Act.
B) the partnership agreement.
C) the sworn testimony of Cheatham and Howe.
D) the customs and traditions of similar partnerships.

Question

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The partnership agreement is the most important reference point for determining the rights of partners in a partnership. It outlines the specific terms and conditions under which the partnership operates, including each partner's rights and responsibilities, their share of profits and losses, and the process for resolving disputes or dissolving the partnership. While the Uniform Partnership Act may provide some guidelines, and customs and traditions of similar partnerships may be considered, the partnership agreement is the primary source of information about a partner's rights in the firm. Sworn testimony of other partners is unlikely to be a reliable or comprehensive source of information about partnership rights.

In Determining the Rights of Partner Dewey in the Firm